Potential Savings
You could Save
$ 200,000
on the total cost of your home
How Fast You'll Pay Off Your Home
14 Years
By switching to a First Lien HELOC and applying the Maximized Cashflow Strategy,
you would pay off
your home years faster.
First Lien HELOC
| Total Cost | $ 0.00 |
| Paid in Interest | $ 0.00 |
| Actual Cost of Fund | $ 0.00 |
Mortgage
| Total Cost | $ 0.00 |
| Paid in Interest | $ 0.00 |
| Actual Cost of Fund | $ 0.00 |
Mortgage
Total Loan Cost
$ 200,000
Principal + Interest Paid
Total Interest Paid
$ 200,000
The total you paid to borrow your principal balance.
Monthly Payment
| $ 3,616.82 |
Timeline
| Years to Payoff | 30 |
| Total Payment | 30 |
Interest Rate
| Interest Rate | 30 |
| Actual Cost of Fund | 30 |
Mortgage Loan Information
Payment Schedule
| # | Pmt Date | Beginning Balance | Interest Payment | Toward Principal | Ending Balance | Cumulative Interest | Equity Gained |
|---|
First Lien HELOC
Total Loan Cost
$200,000
Principal + Interest Paid
Total Interest Paid
$14
The total you paid to borrow your principal balance.
Monthly Payment
First Month's Interest Only Payment
$ 3,616.82
Average Interest Only Payment
$ 1,595.17
Maximized Cash Flow Strategy
Average Monthly Household Payment
$ 8,500.00
Years to Payoff
8.83
Interest Rate
Interest Rate
$ 5.50
Actual Cost of Fund
26.54
First Lien Heloc Payment Loan Information
Payment Schedule
| # | Pmt Date | Interest | Beginning Balance | Minimum monthly payment (interest only) | Principal Reduction | Ending Balance | Total Interest | Total Equity Gained |
|---|
Side by side Comparison
Current Mortgage |
First Lien HELOC |
|
|---|---|---|
| MORTGAGE TERMS | HELOC TERMS | |
| Current Principal Balance | ||
| Annual Interest Rate | ||
| Comparative Interest Rate | ||
| ESCROW INFORMATION | ||
| Monthly Homeowners Insurance | 0.00 | |
| Monthly Property Taxes | 0.00 | |
| Annual Total | 0.00 | |
| PAYMENT INFORMATION | ||
| Average Monthly Payment | ||
| Monthly Escrow Payment | Total | |
| LOAN PERFORMANCE | ||
| Years to pay off | ||
| Total Loan Cost | ||
| Total Interest Paid | ||
|
Cost of Funds (Percent paid of Initial Balance in Interest) |
||
Side by side Comparison
|
Maximized Cashflow Strategy |
|
|---|---|
| HELOC TERMS | |
| Current Principal Balance | |
| Annual Interest Rate | |
| Comparative Interest Rate | |
| ESCROW INFORMATION | |
| Monthly Homeowners Insurance | |
| Monthly Property Taxes | |
| Annual Total | |
| PAYMENT INFORMATION | |
| Average Monthly Payment | |
| Monthly Escrow Payment | |
| Total | |
| LOAN PERFORMANCE | |
| Years to pay off | |
| Total Loan Cost | |
| Total Interest Paid | |
|
Cost of Funds (Percent paid of Initial Balance in Interest) |
|